Oryx Updates on Kurdistan Operations

Oryx Petroleum has announced an update on its activities in the Kurdistan Region of Iraq.

Chief Executive Officer, Michael Ebsary (pictured), stated:

“We continue to make great progress on all fronts in our Hawler license area. Progress continues towards first production from the Demir Dagh discovery with an early production facility now contracted and we are advancing the balance of our exploration program.

“Testing of our second exploration well at Zey Gawra will begin in the next few weeks, preliminary indications from the third exploration well at Ain Al Safra are encouraging and we will spud our fourth and possibly most significant exploration well at Banan in the next two weeks.

“The coming months in Kurdistan should be exciting as we continue to unlock the potential we see in the Hawler license area.“

Hawler License Area

Demir Dagh Discovery: Contract Signed for Early Production Facility

Oryx Petroleum recently agreed to lease an Early Production Facility (EPF) from Expro, an international oilfield services company specializing in well flow management (www.exprogroup.com). The facility will have multiple trains with the ability to process light, heavy, sweet or sour crudes types. The lease period is expected to be two years with options to purchase at any point during the lease.

The EPF will have an initial capacity of 25,000 bbl/d and will be re-engineered to a capacity of 40,000 bbl/d. The facility is expected to be in place in Q1 2014 with first production planned for Q2 2014. The EPF may also be utilized for the appraisal of the other outlying prospective fields Banan and Zey Gawra.

Site preparation has commenced for the EPF which will be located 150 metres from the DD-2 well site and 500 metres from the Khurmala to Faysh Khabur pipeline that is expected to be completed by the end of 2013. A truck tanker loading station with initial capacity of 10,000 bbl/d will also be constructed 9.5 kilometres from the EPF near the main highway to facilitate domestic sales.